Trading Report: The Illumina Inc. (ILMN) PT Lowered to $135.00 at Canaccord Genuity

The Illumina Inc. (ILMN) PT Lowered to $135.00 at Canaccord Genuity

Illumina Inc. (NASDAQ:ILMN) had its price target trimmed by Canaccord Genuity from $165.00 to $135.00 in a research note issued to investors on Tuesday. The brokerage currently has a hold rating on the life sciences company’s stock.

Several other analysts also recently issued reports on ILMN. CL King initiated coverage on Illumina in a report on Tuesday, June 21st. They issued a buy rating and a $165.00 price target on the stock. Cantor Fitzgerald reissued a hold rating on shares of Illumina in a report on Wednesday, June 29th. Zacks Investment Research raised Illumina from a sell rating to a hold rating in a report on Monday, July 4th. Morgan Stanley downgraded Illumina from an equal weight rating to an underweight rating and cut their price target for the stock from $130.00 to $110.00 in a report on Tuesday, July 5th. Finally, Piper Jaffray Cos. reissued an overweight rating and issued a $161.00 price target on shares of Illumina in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Illumina has a consensus rating of Hold and a consensus target price of $156.88.

Shares of Illumina (NASDAQ:ILMN) opened at 137.17 on Tuesday. The firm has a 50-day moving average price of $172.04 and a 200 day moving average price of $156.15. Illumina has a 12-month low of $127.10 and a 12-month high of $196.47. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 46.98 and a beta of 0.47.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, equities research analysts anticipate that Illumina will post $3.53 earnings per share for the current fiscal year.

In other Illumina news, Director Jay T. Flatley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $172.99, for a total value of $3,459,800.00. Following the completion of the sale, the director now owns 508,061 shares of the company’s stock, valued at $87,889,472.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Bradbury sold 600 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $184.36, for a total value of $110,616.00. Following the completion of the sale, the director now directly owns 17,065 shares of the company’s stock, valued at approximately $3,146,103.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Physicians Financial Services Inc. boosted its stake in shares of Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock worth $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock worth $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Illumina during the second quarter worth $112,000. Ropes Wealth Advisors LLC boosted its stake in shares of Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock worth $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock worth $134,000 after buying an additional 22 shares in the last quarter. 95.22% of the stock is owned by institutional investors.

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